Yep, those front brakes are needed....its like driving that car with slicks on a wet road....makes for some scarey maneuvers....
On your detuning, all you should be able to do is change out the cam, possibly springs, maybe change your carbs or put them back stock if needed.
Fuel has dropped again....its like a yo-yo, and as soon as the gov. swallows that bullet and makes us pay the high prices regardless.... it'll be like fuel in NZ....HIGH.
With that thought in mind, and all, EFI might be the way to go in your situation. But, detuning the motor isn't hard nor bad. Will also let you peak inside there to make sure things are correct, since you bought the car....
If its setup for racing, and its a fresh motor, if you get a lifter box from the autoparts store, you can pull that cam and probably sell it....just keep the lifters matched to the cam lobes. Same with the spring and carb(s)....That way you'll have a little return to keep the cost down.
OR, Find someone that'll swap out with ya....
Usually you'll find some igmo that'll want to trade out his nice warmed up 350 with a turbo 350 for a fire breathing 383 roller motor with 12.5's, gear driven, alum. rod'ed alum. headed beast with a all out Hi Stall setup 350, complete with diapers....
Would be a good trade in your case.